Uruguay: Inflation edges higher in November
December 5, 2018
Consumer prices increased 0.4% from a month earlier in November, a couple notches faster than October’s 0.2% month-on-month rise. According to data released by the Statistical Institute, November’s reading was driven by a jump in health costs, which were offset by a fall in food and beverage prices.
Inflation was roughly stable, ticking up to 8.1% from 8.0% in October and still outside the Central Bank’s 3.0%–7.0% target. Pass-through pressures from the weak peso have contributed to the elevated inflation readings in recent months.
Meanwhile, annual average inflation rose to 7.5% from 7.4% in October, reaching a 17-month high.
Author: Christopher Thomas, Economist